Hope Academy Inc

Analysis

Hope Academy Inc is a registered charity in United States, based in Gulfport, MS. It received its IRS tax-exemption ruling in February 2003, 23 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Hope Academy Inc reported income of $1.6m and spending of $1.8m, spending 111% of what it took in. Across the 3 years on record, from June 2020 to June 2023, income grew from $942k to $1.6m (+72%), an average of +31% a year. The sharpest change came in the year to June 2021, when income rose by 38%. Over the whole period it spent 116% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Hope Academy Inc sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 86th percentile within MS. Charities of a similar size with the same main cause include New Mexico Dream Center ($1.6m), Lama Yeshe Wisdom Archive ($1.6m) and Srikarunamayi Research Institute of Meditation Center ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 8.7% and program service revenue 91% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $5.6m against liabilities of $4.6m, net assets of $977k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.